7 Things that Happen When You’re Rich
Before I made my first million dollars, I didn’t realize how many things would change in my life.
Here are 7 things that happen when you’re rich;
1. Increased Responsibility:
There are definitely more things to do when you get rich.
While most people think that having a lump sum gives them a major break, it actually puts them to work.
Before made my first million, I knew I wanted $10 million.
Therefore, I used my funds to invest in business, hire employees, and buy assets.
My work became easier because I had help, but there was still a larger responsibility that I had to society.
When you make money, people depend on you more. With more wealth comes greater responsibilities.
2. New Competition & Connections:
When you get rich, you develop more friends and foes.
You’ll have higher level competitors, but you’ll also meet higher level connections too.
Your competitors become more sneaky, deceptive, and strategic. They plot for years as they anticipate your growth.
However, your connections work similarly. Instead of having one-time collaborations or short-term friendships, your friends are likely to stick with you for decades—and some stand by you for life!
3. More Opportunities:
There are many moving parts when you become wealthy. Unlike the middle class, you won’t be confined to one stream of income, one bank account, and a limited line of credit.
Instead, you’ll have millions of dollars in liquidity, which must be used to the best of your ability.
Rather than collecting less than 10% interest on your investments, you’ll be looking for for higher returns.
You’ll find ways to double, triple, and even ten times your money.
In fact, you’ll have opportunities to make money that most people would never know about—all because of your net worth.
4. Higher Fees, Expenses, & Taxes:
When you earn a fortune, society will try to nickle and dime you.
Sometimes, you’ll will pay more in fees than you pay to your best employees.
Taxes and expenses are exorbitant too. If you don’t find a way to keep your books, manage your expenses, and file your taxes—then it could lead to a major leakage in your wallet!
However, keep in mind that you get big financial breaks along the way.
You may be entitled to big bulk discounts, waivable fees, and deals that may not be available to the general population.
5. Jealousy and Hate:
When you amass wealth, you’ll be greeted by the overwhelming 99% of the population who won’t understand it.
Beyond the jealousy and hate, you’ll see that many people will undermine, dispute, and refuse to accept your success.
They’ll call you all kinds of names: evil, greedy, selfish, lucky, etc.
Even though they completely misunderstand you, it’s part of the process. It will also teach you why the majority of them are broke.
Either way, just move ahead and forget about your critics, haters, and naysayers.
6. People Ask For Money:
When you get rich, there will be a large number of people who ask you for money.
Unfortunately, some friends and family will cut you off when they don’t see “gifts” coming their way.
Even worse, you may be formally accused for being wealthy. There will be a plethora of people who will attempt to take advantage of you.
Be diligent in every interaction. People try to fabricate stories, get refunds, and file lawsuits to destroy the wealth and reputation of many
business leaders in this world.
7. High Expectations:
One of the major benefits of wealth is that it pushes you to higher echelons of success within your industry.
Since you are always expected to win, you will be held accountable by almost every worthy person in your life.
But this is only the glory in your story! It keeps you honest, alert, and prepared.
Use their accountability to reach a higher level of financial stability!
There are many other consequences of wealth, but I’ve shared the most important ones.
Thankfully, sustainable wealth can take a while to accumulate (usually within 10 years) for a good reason.
It teaches you to learn from the process, be patient, and work with purpose.
Because these are the major keys to building wealth!
- Daniel Ally